Cardano Tops Weekly Crypto Gainer Charts as ADA Soars 11% Over 7 Days — Bitcoin, Dogecoin Left in the Dust

Cardano (CRYPTO: ADA) emerged as the best-performing large-cap cryptocurrency last week, defying losses among the market’s heavyweights.

Cardano Races to a 1-Month High

ADA nearly rallied 11% in the last seven days, the highest among coins with at least $1 billion in market capitalization.

ADA’s returns stood out against Bitcoin’s stagnation and Dogecoin’s sharp losses. The token climbed to a near one-month high during this period.

Whales Driving ADA’s Surge?

Ali Martinez, a widely followed cryptocurrency analyst and trader, linked ADA’s spike to aggressive accumulation by whale investors.

The analyst posted a Santiment chart showing whale-held ADA rising from lower levels around July 29 to a peak of 14.55 billion tokens by July 31.

ADA on the Move?

The Moving Average Convergence Divergence indicator, which compares the 12-period and the 26-period exponential moving averages, flashed a “Buy” signal for ADA, according to TradingView.

Conversely, the Commodity Channel Index, which measures the difference between the current price and the historical average price of an asset, signaled a “Sell.”

Speculative interest has also intensified, with open interest in ADA futures contracts surging 26% in a week to $500 million, according to Coinglass.

Price Action: At the time of writing, ADA was exchanging hands at $0.1839, down 1.60% in the last 24 hours, according to data from Benzinga Pro. Year-to-date, the stock has plunged 44%.

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